8.21 Early Morning Bitcoin Ether Silk Road
From the current market perspective, yesterday's market showed a wide range of fluctuations, with clear high and low points emerging. The upper track has significant resistance and the lower track shows strong support, resulting in limited overall volatility. Ether has clearly entered a phase of catch-up, rebounding nearly 300 points after hitting the lower track, with strong bullish characteristics evident; each downward movement has been effectively recovered. The operational strategy suggests focusing on buying at lower levels.
From the four-hour view, the Bollinger Bands are extending downwards, with prices attempting to break through the middle band multiple times without forming an effective breakthrough. Pressure is gradually accumulating above, and the rebound momentum is continuously weakening, indicating a likelihood of further downward movement. However, the current lower track area has shown clear signs of bottom formation, and the idea of "buying on pullbacks" can still be maintained going forward.
Bitcoin: Suggest buying in the range of 112300-112800, with a target around 114500-115000
Ether: Suggest buying in the range of 4180-4220, with a target around 4350-4380
